25.10.2026 12:51
In the fund investigation conducted by the Istanbul Chief Public Prosecutor's Office, 3 million dollars in the bank account of Reyhan Sütşurup, the mother of Mustafa Sandal's wife Melis Sütşurup Sandal, was seized. It is alleged that Melis Sütşurup Sandal, for whom an arrest warrant has been issued, and her father Cihan Sütşurup earned approximately 3 billion lira in profit from Tera funds. The lawyers of the father and daughter had applied to the Chief Public Prosecutor's Office to return the earnings.
Measures against the Sütşurup family are expanding in the investigation into capital market funds. Following the seizure of the assets of Melis Sütşurup Sandal and her father, this time the money in Reyhan Sütşurup’s account was seized.
CLAIM THAT IT WAS WANTED TO BE SENT ABROAD
According to a report by journalist Burak Doğan, 3 million dollars in a bank account belonging to Cihan Sütşurup’s wife, Reyhan Sütşurup, which was allegedly sought to be sent abroad, was seized.
“3 BILLION LIRA PROFIT” CLAIM
According to information reportedly reflected in the investigation file, Melis Sütşurup Sandal deposited 13 billion 673 million lira into the Tera TLY fund in 2026 and made a profit of 2 billion 355 million lira. It was alleged that Cihan Sütşurup deposited 3 billion 707 million lira into the same fund and made a profit of 639 million lira. The father and daughter’s total earnings are alleged to be approximately 3 billion lira.
LAWYERS APPLIED FOR RESTITUTION
Lawyers for Melis Sütşurup Sandal and Cihan Sütşurup, who were stated to be abroad, contacted the Istanbul Chief Public Prosecutor’s Office on October 24 and reported that they wanted to return the fund earnings. It was learned that the Chief Public Prosecutor’s Office directed the lawyers to the Savings Deposit Insurance Fund (TMSF) for the transactions. It is stated that the amount to be returned has not yet been finalized.
25 SUSPECTS RETURNED 10 BILLION LIRA
It was learned that since the beginning of the investigation, 25 suspects have returned a total of 10 billion 300 million lira. After Enver and Feridun Geçgel, the owners of Astor Enerji AŞ, returned 5 billion lira, the Chief Public Prosecutor’s Office lifted the asset measures against the pair.
ARREST WARRANT HAD BEEN ISSUED IN SEPTEMBER
In the investigation conducted by the Terror Financing and Money Laundering Crimes Investigation Bureau of the Istanbul Chief Public Prosecutor’s Office, an arrest warrant was issued for Melis Sütşurup Sandal and her father on September 29, and their assets were seized. The Chief Public Prosecutor’s Office had requested asset measures for 106 individuals and organizations, 47 of whom are natural persons, including Melis Sütşurup Sandal. Melis Sütşurup Sandal’s lawyer had argued that his client’s investments remained in the funds and that she was a victim of the fund crisis.
TERA EXECUTIVES ARRESTED
Within the scope of the investigation, on September 22, 5 suspects, including Tera Yatırım Holding Board Chairman Emre Tezmen, were arrested on charges of “forming an organization to commit a crime,” “fraud by a merchant or company manager during commercial activity,” and “opposition to the Capital Markets Law.”
MUSTAFA SANDAL: I HAD NO FUND PURCHASES OR SALES
Singer Mustafa Sandal also said in a statement at his concert in Ankara after the investigation that he had no connection with fund transactions. Sandal had used the expressions, “I have never, ever had any fund purchases or sales in any way. For 33 years, my only source of income has been music, thanks to your appreciation.”
The investigation is ongoing.